Through exclusive licensing deal with Chinese streaming-video provider iQiyi, Netflix finally taps into mainland China’s US$8.83 billion online video market
Netflix moved a step closer to worldwide dominance with a major licensing deal that enables its original programmes to gain access to China, a vast entertainment market that has long eluded the world’s largest pay-TV service.
Through an exclusive licensing deal with iQiyi, China’s major streaming-video provider controlled by the country’s internet giant Baidu, Netflix is expected to bring a wide range of content to China, where the online video market was valued at US$8.83 billion in 2016, slightly bigger than Netflix’s global streaming revenue of US$8.3 billion in the same year.